Crypto Fund Manager Says BTC Is Half-Priced ‘Hurricane Insurance’

The “lighting Bitcoin” as some describe it is now facing a new decline but still holds on to the $6,000 levels. Meanwhile, one crypto fund manager was vocal in the crypto news, saying that Bitcoin (BTC) is an insurance against both hurricanes and the US fiscal policy.

The crypto fund manager, Travis Kling, is the chief investment officer (CIO) of the crypto investment firm Ikigai Asset Management.

On March 20, Kling tweeted stating that an oncoming hurricane that will soon hit the US economy will “do a lot of damage.” If all is not lost, however, the crypto fund manager said that the recent market crash made half-priced hurricane insurance available to all.

A hurricane is hitting. Its clear the hurricane will do a lot of damage.

You can still buy hurricane insurance.

People panic sold the insurance policy bc they wanted cash. Now its half priced from a month ago even though the hurricane is clearly here now.

That’s #Bitcoin.

— Travis Kling (@Travis_Kling) March 20, 2020

“You can still buy hurricane insurance. People panic sold the insurance policy bc they wanted cash.
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Now it’s half priced from a month ago even though the hurricane is clearly here now,“ he said.

Earlier the same day, Kling was in the Bitcoin news for describing the coin as “an insurance policy against the largest monetary experiment in human history” and added a graph to his tweet that illustrates the annual US budget deficits.

Get ready for that next bar to be the biggest we've ever seen by a long shot. #Bitcoin is an insurance policy against the largest monetary experiment in human history. pic.twitter.com/bKAnmCUtL0

— Travis Kling (@Travis_Kling) March 19, 2020

The crypto fund manager’s tweet comes after the recent crypto market meltdown which left Bitcoin’s long presumed safe haven status in question – especially as BTC plummeted by 50% within 30 hours alongside hefty losses in the traditional market following the US President Donald Trump and the announcement of the travel ban on March 11.

Still, many people in the cryptocurrency community appear not to have been naive when it comes to the impact of a recession or a financial shock on the crypto markets. On January 3, Andreas Antonopoulos said that crypto will likely crash during the outset of a mainstream financial meltdown. He also added;

“And the reason it will crash hard is because a lot of the venture capital, corporate investments and private investment from individuals that is based on cheap money and disposable income and excess cash in portfolios etc., like in any other part of the economy, will dry up.”

While the crypto fund manager Kling and Antonopoulos have similar statements, the co-founder of Morgan Creek Digital, Anthony Pompliano, argued that the crash was caused by a liquidity crisis in which “investors all rush to the exit doors at the same time” in a bid to realize fiat.